Bulgarian lev

For the first time, the money circulation in Bulgaria has surpassed 30 billion leva. According to the Bulgarian National Bank's (BNB) publication "Overview of the Issue and Cash Activity," as reported by BTA, the total value of banknotes and coins in circulation reached BGN 30 billion and 356 million as of the end of September.

Bulgarians continue to embrace the use of coins, as evidenced by the latest figures from the Bulgarian National Bank (BNB). The total number of coins in circulation reached 3,315,164,574 units by the end of September, showing growth both compared to August and on an annual basis.

Retail chains in Bulgaria are actively preparing for the transition from the Bulgarian leva to the euro. Nikolay Valkanov, the executive director of the Association for Modern Trade, stated on Nova TV that ongoing discussions with relevant departments are focused on coordinating activities associated with the euro's introduction.

Bulgaria spends approximately a billion leva (half a billion euros) annually due to its decision to maintain its own currency, according to financial consultant Deyan Vassilev. On Nova TV, he noted that the currency exchange alone costs the country around 500 million leva each year, highlighting that this inconvenience hinders Bulgaria's integration within the European market.

Bulgaria is planning to transition from the leva (BGN) to the euro (EUR) in just over a year as part of its strategy to enter the Eurozone. While the exact date remains uncertain, the implications of this shift are clear. The newly adopted euro law outlines the process and addresses potential consequences of further delaying Eurozone membership.

Recent changes to the Law on Payment Services and Payment Systems regarding the adoption of the euro have raised concerns among legal experts about potential contradictions with the already enacted Law on the Introduction of the Euro.

During the first six months following Bulgaria's adoption of the euro, "Bulgarian Posts" will offer free exchange of banknotes and coins from levs to euros at the official exchange rate, with a daily limit of 1,000 leva per person. For exchanges between 1,000 leva and 10,000 leva, customers will need to submit a request 3 to 5 working days in advance, but only at designated post offices.

By the end of July, Bulgaria reached a new record for the value of money in circulation, according to data from the Bulgarian National Bank. The total amount of banknotes in circulation hit a historic high of 29.168 billion leva, surpassing the previous record set at the end of last year by more than 342 million leva.

The Bulgarian Parliament has approved the Law on the introduction of the euro, which outlines the procedures for rounding prices following the currency switch. This legislation is designed to manage the transition from the leva to the euro once Bulgaria joins the Eurozone, detailing how prices will be displayed in both currencies for a month.

The Bulgarian National Bank has reported a rise in counterfeit 100 leva bills, according to statistics released on its website. In the second quarter of the year, there were 230 fake 100 leva notes identified and confiscated.